[에너지신문] 20 May 2016 - Following the bilateral agreement on the construction of a nuclear power plant in Egypt, that was signed between Egypt and Russia in November 2015, Russia has confirmed that it would lend US$25bn for the project. The 13-year loan (2016-2028) will finance 85% of the value of each contract for the work, services and equipment shipping. Egypt will repay loan amounts used over 22 years.
The first nuclear power project in Egypt will be built by Russian company Rosatom in Dabaa in the north of the country. The Dabaa site was selected in 1983 but nuclear plans were shelved in 1986 after the Chernobyl disaster. The nuclear programme was relaunched after signing nuclear agreements with Russia in 2004 and 2008. In 2010, Egypt announced plans to build four plants by 2025 but the project was put on hold in 2011 after the ousting of former president Mubarak. The project is expected to be completed in 2022 and the first of four reactors is scheduled to start power generation in 2024.